All Topics / General Property / USA Adventure

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of aussieinvestoraussieinvestor
    Participant
    @aussieinvestor
    Join Date: 2003
    Post Count: 67

    Hello

    Well after a couple of months of late nights and very early mornings conducting hours of overseas telephone calls to the States, not to mention the countless emails and faxes, I have just booked my flight to begin work ‘on the ground’ in my USA investing (ad)venture.

    The work has been long and hard, however I reckon I’ve established a potentially good team in the US, consisting of an attorney, financier, very eager property management company CEO and a highly regarded Real Estate agent who has great expertise in the foreclosure market.

    The goals of the trip include meeting and concreting relationships with these guys, then trying them out on a number purchases.

    In relation to the finance issues, I believe that I may be able to work around them by using some creative structuring options that have been presented to me. This is one of the items still requiring some more research before I leave but will not be detrimental to the trip.

    So why am I telling you this?

    Well, at this stage I am flying solo and would love anyone who is absolutely serious about investing in the USA to join me on this adventure. These are large unfamiliar places, so it’s much safer to hunt in packs rather than alone, bounce ideas and suggestions off one another and for general company.

    For personal security reasons I won’t disclose on this forum the actual dates I will be away, only to say that I will endeavour to be at Ground Zero on September 11 to pay respect to my fallen comrades of FDNY. I will only disclose travel details to those that are available in September and are serious about going, after we have spoken by telephone first.

    In relation to referring the above team to you, I have no hesitation in making recommendations for anyone, once I have tried them for myself first. If I put my name to a recommendation, I want to know that it won’t come back and bite me down the track!!!

    I am more than happy to share my experiences should you have an interest in USA investing and as such will happily complete regular updates whilst I am in the States, when I get time. This way you can share in the excitement and experiences from the comfort of your desktop. If you would like to receive these updates, please PM me with your email address and I will include you on the mailing list. Alternatively you can email me at [email protected]

    Also, I will enjoy doing the rounds to pass on my experiences to the many investors’ groups around at the moment. I will gladly attend and speak to your group, or we can just organise a special evening, so long as the group covers any out-of-pocket expenses, which I think is pretty fair, otherwise it could get rather expensive. Even if the trip does not turn out as successful as I hope, I’m sure there will be a great deal of insights and learning experiences I can share with you. Once again, please PM or email me with a contact email address so we can discuss this further.

    If you are interested in travelling and meeting up in the States, Flight Centre have a special on, but only until this Friday, 22/7. Airfares currently cost around $2K return from Melbourne, which includes international and domestic travel, taxes and insurance. I am exploring a number of low cost accommodation options at the moment.

    Well, that’s about it for now, I hope there will be a big rush of people wanting to take advantage of my hard work and we can take the US by storm. Seriously though, if I only get one person to travel over, it will make the trip all the more enjoyable and most importantly, safer.

    I look forward to receiving your email or reply to this post on the forum.

    Best wishes

    Giraffe

    “It pays to stick your neck out”

    aussieinvestor | Digital Revenue Pty Ltd
    http://appliancewhiz.com
    Email Me

    Profile photo of aussieinvestoraussieinvestor
    Participant
    @aussieinvestor
    Join Date: 2003
    Post Count: 67

    Hello from Rochester NY

    Firstly, an apology to those who emailed me interested in progress reports. I have just been too busy on the ground to be able to commit time to writing an update that would be of any use.

    Due to the fact that there are a number of people interested in the US and many will be travelling here in the next couple of months, there is a lot happening due to the effects of Hurricane Katrina that you may wish to consider when deciding where to go.

    About 160 families are relocating from New Orleans to Rochester and similar into other areas of New York State, including Buffalo and as far away as California. This will be sure to have an effect on both the owner/occupier and rental markets, as many of these families will be enrolling their children in new schools for the beginning of the term (next week I think). I’m sure that many will settle in their new locations permanently, as it will be some time before Louisiana, especially New Orleans, will be back to their former glory.

    Other areas have been overwhelmed by the impact of Katrina, including areas of Texas, especially Houston. Some cities in Louisiana are currently attempting to house double their regular populations, placing huge demands on infrastructure, services and rental accommodation. I would suspect that further families will relocate for this reason.

    I received an email explaining that many areas are now experiencing high rental demand as a result of Katrina. Whilst this may be true, many people didn’t only lose their homes but I would say the majority also lost their livelihood. Rental affordability by these refugees will possibly play some part in the market and how will this affect the US economy, as big as it is, if they need to or are able to subsidise, considering the overall and ongoing cost of their worst natural disaster in history?

    Whilst this may or may not affect where, how or why you may wish to invest in the USA, I believe that those considering the trip should factor the above into their decision making and research, as some areas, apart from those directly effected by Katrina are in complete turmoil, especially in the short term and I guess the long term effects will become evident as time goes on.

    All the best…Giraffe

    “Real Estate – The Foundations of Wealth”

    aussieinvestor | Digital Revenue Pty Ltd
    http://appliancewhiz.com
    Email Me

    Profile photo of ahomahom
    Participant
    @ahom
    Join Date: 2005
    Post Count: 1

    Thank you for the job. Take care and good luck on your trip.

    Profile photo of rickottonrickotton
    Participant
    @rickotton
    Join Date: 2002
    Post Count: 24

    May I suggest you feel free to contact me if you want some assistance or advice with Texas as it was in Texas I started my We buy Houses business some 15 years ago and bought many foreclosues in the good old days of the Savings and loans collapse as well as many since.p.s. it doesn’t get cold till about Thanksgiving. http://www.rickotton.com

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